Greek finmin says economy likely to shrink 3 pct in Q3
ATHENS Oct 21 (Reuters) - Greece's economy is likely to shrink by about 3 percent in the third quarter, Finance Minister Yannis Stournaras said on Monday, with the recession easing from 3.8 percent in the previous quarter, helped by reviving tourist revenues.
"The Greek economy is certainly entering a new phase," Stournaras said. "We expect an even better result in the third quarter, probably close to -3 percent, a result in which tourism has certainly contributed significantly."
The European Commission and the International Monetary Fund expect Greece's 183-billion euro economy to contract by 4.0 percent this year, its sixth straight year of decline.
- Six people injured when camera catches fire at 30 Rockefeller Plaza
- Israel holds off on escalating Gaza barrage; West wants truce |
- Russia warns Ukraine after shell crosses border |
- 'Excessive' rubbing of engine blades caused F-35 failure: Pentagon
- Exclusive: YouTube weighs funding efforts to boost premium content - sources